Amex launches boosted cashback deal of £125 for new customers
- Amex boosts Cashback Everyday Credit Card introductory bonus to £125
American Express has boosted the introductory offer on its Cashback Everyday Credit Card by £25.
New customers signing up for the plastic can now earn 5 per cent cashback on all spending up to £125 for the first five months of card membership.
Previously, customers signing up for the card could get 5 per cent cashback up to £100 in the first three months of card membership.
Cashback boost: Amex has boosted the sign up cashback offer on its Cashback Everyday Credit Card by £25
Amex launched the three month introduction sign up bonus for new customers with the £100 cap in February this year as a limited time offer.
This time round, there is no end date for the new introductory £125 cashback offer.
How does it work?
The sign up bonus is only available to customers who have not held a personal American Express card in the previous 24 months.
If you are only a supplementary cardholder on someone else’s American Express card, you will still be able to receive the sign up bonus.
There is no monthly or annual charge on this card.
After the five month introductory period, customers will receive 0.5 per cent cashback when spending up to £10,000 and 1 per cent cash back on everything they spend after that each year thereafter.
As long as you spend at least £3,000 in each given year, every full £1 you spend on purchases qualifies for cashback.
Customers do not receive cashback month by month. Instead, it is paid onto your Amex statement at the end of each card year.
There card also comes with a refer a friend offer.
The person who does the referring earns £20 cashback whilst the person who is referred gets £10 cashback for the first £1 they spend. The limit for referral earnings is set at £150 a year.
If you fail to pay off the card balance each month you'll be hit with a 31 per cent purchase rate.
The Amex Cashback Everyday Credit Card currently has the highest credit card cashback earn rate on the market.
Most other credit cards offer between 0.1 per cent and 0.25 per cent of cashback rewards, according to frequent flyer website Head for Points.
It is worth bearing in mind that some UK retailers don't accept Amex due to the fact that it charges them around 3 per cent for each sale they make.
Being aware of where you can and can't use your American Express card is important - you can find out the places that accept Amex here.
There are now very few major chains that don't accept it. You are more likely to have an issue when in smaller shops throughout the UK.
SAVE MONEY, MAKE MONEY
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence. *Chase: Cashback available for first year. Exceptions apply. 18+, UK residents.
